Icon Plc (NASDAQ:ICLR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.

According to Zacks, “ICON plc is a global full service clinical research organisation. The company provides contract clinical research services to the pharmaceutical industry worldwide. “

Several other equities research analysts have also commented on ICLR. BidaskClub raised shares of Icon Plc from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 22nd. SunTrust Banks, Inc. raised shares of Icon Plc from a “hold” rating to a “buy” rating and upped their price target for the company from $93.00 to $126.00 in a report on Monday, July 31st. ValuEngine raised shares of Icon Plc from a “hold” rating to a “buy” rating in a report on Friday, September 1st. KeyCorp reaffirmed an “overweight” rating on shares of Icon Plc in a report on Monday, July 31st. Finally, Credit Suisse Group reaffirmed a “buy” rating on shares of Icon Plc in a report on Friday, July 28th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Icon Plc presently has a consensus rating of “Buy” and a consensus price target of $111.25.

Shares of Icon Plc (NASDAQ ICLR) traded down 1.30% during trading on Thursday, reaching $115.10. The company had a trading volume of 323,918 shares. The company’s 50 day moving average is $106.40 and its 200-day moving average is $92.41. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of 23.35 and a beta of 0.61. Icon Plc has a 1-year low of $73.76 and a 1-year high of $117.53.

Icon Plc (NASDAQ:ICLR) last posted its quarterly earnings results on Thursday, July 27th. The medical research company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.30 by $0.01. Icon Plc had a net margin of 15.97% and a return on equity of 28.72%. The company had revenue of $431 million for the quarter, compared to analyst estimates of $430.68 million. During the same period in the prior year, the company earned $1.14 earnings per share. The firm’s revenue was up 5.0% on a year-over-year basis. On average, equities research analysts anticipate that Icon Plc will post $5.32 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This news story was posted by American Banking News and is owned by of American Banking News. If you are accessing this news story on another website, it was stolen and republished in violation of US and international trademark & copyright legislation. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2017/09/09/icon-plc-iclr-rating-lowered-to-hold-at-zacks-investment-research.html.

Several institutional investors have recently modified their holdings of the business. IHT Wealth Management LLC raised its position in shares of Icon Plc by 16.9% in the second quarter. IHT Wealth Management LLC now owns 166 shares of the medical research company’s stock worth $223,000 after acquiring an additional 24 shares during the period. IFP Advisors Inc raised its position in shares of Icon Plc by 2.7% in the first quarter. IFP Advisors Inc now owns 2,232 shares of the medical research company’s stock worth $178,000 after acquiring an additional 59 shares during the period. World Asset Management Inc raised its position in shares of Icon Plc by 1.8% in the first quarter. World Asset Management Inc now owns 3,455 shares of the medical research company’s stock worth $275,000 after acquiring an additional 60 shares during the period. Huntington National Bank raised its position in shares of Icon Plc by 5.0% in the second quarter. Huntington National Bank now owns 1,630 shares of the medical research company’s stock worth $159,000 after acquiring an additional 77 shares during the period. Finally, Bangor Savings Bank raised its position in shares of Icon Plc by 1.4% in the second quarter. Bangor Savings Bank now owns 11,539 shares of the medical research company’s stock worth $1,128,000 after acquiring an additional 161 shares during the period. Institutional investors and hedge funds own 90.62% of the company’s stock.

Icon Plc Company Profile

ICON public limited company is a contract research organization (CRO), which is engaged in providing outsourced development services to the pharmaceutical, biotechnology and medical device industries. The Company is engaged in the strategic development, management and analysis of programs that support the various stages of the clinical development process, from compound selection to Phase I-IV clinical studies.

Get a free copy of the Zacks research report on Icon Plc (ICLR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Icon Plc (NASDAQ:ICLR)

Receive News & Ratings for Icon Plc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Icon Plc and related companies with MarketBeat.com's FREE daily email newsletter.